Petrochemical Corporation of Singapore (PCS) has decided to invest US$80 million in new naphtha import facilities, including storage tanks and a liquid berth to handle large vessels in SIngapore.

In a press statement issued yesterday, PCS Managing Director A. Yonemura said the project was in response to the global trend of moving naphtha to larger vessels and will strengthen the companies import logistics, giving it better efficiencies.

The project "will help ensure PCS continues to be a reliable supplier to all our customers with smooth and stable operations", Yonemura said.

The project is targeted to be ready by the third quarter of next year and expected to start operations by the fourth quarter.

PCS is jointly owned by Japan-Singapore Petrochemicals Company (led by Sumitomo Chemical), Qatar Petroleum International and Shell Petrochemicals (Singapore).